Todd Talk | The Hidden Truth About America’s $170 Trillion Debt
A 60-second conservative commentary with humor and heart.
My friends, you probably know that the federal debt is closing in on $39 trillion, but that’s not the full story.
According to Truth in Accounting, a nonpartisan group, the true total federal debt exceeds $170 trillion - more than four times what we’re told.
The difference comes down to what are called unfunded liabilities. These include promises like Social Security and Medicare that don’t appear anywhere on the government’s official balance sheet.
When these are included, the real number skyrockets in a way most Americans never hear about.
Sheila Weinberg, founder and CEO of Truth in Accounting, says the government assumes it only owes those benefits month to month because it believes it can change or withdraw them at any time.
My friends, America is financially broke, and pretending otherwise is incredibly reckless and dangerous.
For more information about this Todd Talk, read this article.